12,919 Shares in Ovintiv Inc. (NYSE:OVV) Purchased by Golden State Equity Partners

Golden State Equity Partners acquired a new stake in Ovintiv Inc. (NYSE:OVV) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,919 shares of the company’s stock, valued at approximately $567,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OVV. Quent Capital LLC increased its stake in Ovintiv by 151.3% in the 4th quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after buying an additional 351 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Ovintiv by 107.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock valued at $31,000 after buying an additional 341 shares during the last quarter. Pacifica Partners Inc. purchased a new stake in Ovintiv in the 4th quarter valued at about $37,000. Quantbot Technologies LP purchased a new stake in Ovintiv in the 3rd quarter valued at about $38,000. Finally, Fifth Third Bancorp increased its stake in Ovintiv by 42.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,617 shares of the company’s stock valued at $77,000 after buying an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity

In other news, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.65, for a total transaction of $471,045.00. Following the sale, the executive vice president now owns 52,557 shares of the company’s stock, valued at approximately $2,662,012.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares of the company’s stock, valued at $1,206,325.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rachel Maureen Moore sold 9,300 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total transaction of $471,045.00. Following the sale, the executive vice president now directly owns 52,557 shares in the company, valued at approximately $2,662,012.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,564 shares of company stock valued at $4,660,818. Corporate insiders own 1.70% of the company’s stock.

Ovintiv Trading Up 0.2 %

NYSE:OVV traded up $0.12 during trading hours on Friday, reaching $53.26. The company’s stock had a trading volume of 1,139,322 shares, compared to its average volume of 2,470,301. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 6.75 and a beta of 2.65. The firm has a 50-day simple moving average of $50.99 and a 200-day simple moving average of $46.65. Ovintiv Inc. has a 1 year low of $32.07 and a 1 year high of $55.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Research analysts expect that Ovintiv Inc. will post 6.13 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Thursday, March 14th. Ovintiv’s payout ratio is 15.21%.

Wall Street Analysts Forecast Growth

OVV has been the subject of several analyst reports. Mizuho reiterated a “buy” rating and issued a $58.00 price objective on shares of Ovintiv in a research note on Thursday, April 4th. Citigroup increased their target price on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Morgan Stanley increased their target price on shares of Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Royal Bank of Canada raised their price objective on shares of Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Finally, Wells Fargo & Company cut their price objective on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.71.

About Ovintiv

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.